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FINANCIAL NEWS
HK- Giordano to spend USD5m to open new stores in the region
22 Nov 2012
(MENAFN) Giordano Middle East managing director, Ishwar Chugani, announced that by the end of next year, the apparel retailer will spend USD5 million to launch and maintain 20 new stores in the region, reported Gulf News.
Chugani added that by 2015, the company will open 300 stores in the region and India.
He said that by the end of 2013, the Hong Kong-based firm will have stores in Saudi, Qatar, Pakistan, Srilanka and South Africa.
Chugani noted that in January, the company will also spend USD1.36 million to launch logistics centers in the Jebel Ali Free Zone (Jafza) to service a rising number of stores in the GCC, Middle East and Africa.
The company’s chairman and chief executive, Dr. Peter Lau, stated that nearly 10 to 15 percent of Giordano’s global revenue comes from the operations of Giordano Middle East in 23 countries.
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